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, and in terms of the sequester, i agree with the last guest. in many ways between the fed and the deficit spending on the deficit level, even though it's going to be smaller this year, it's hard to beat, that so i think the sequester, where we really demonstrate that the growth in many ways is paid for because when you stop it's going to take away jobs, those kind of black reality swans will be the issue for the market ahead. >> brian gendron, where are you on this and how do you want to be invested? >> we don't think this rally is over entirely. if you extrapolate a 5% or 6% return we've had so far this year, we'll have one of the greatest stock markets of all time in the face of, you know, good earnings but not great earnings, in the face of still slow growth. i think that's a little unrealistic so we'll probably get a little bit of a pullback, unusual if we didn't. still recommending a substantial allocation to equities. this year looks like last year, political uncertainty. last year was a good year for stocks. as for stocks versus bonds, i've been thinking it was the end of a 30-year
will be gradual. and on the downside we have thrown a lot of roadblocks in its path. we have a debt and deficit situation which in the long term are unsustainable, and we're doing absolutely nothing to correct that. nothing. i know cbo's forecast was that we would see modest improvement in the jet crashing into debt-to-gdp ratio the next two years but i don't believe the. i don't like their forecast. i do with 4% growth is going to venture lies with the 0% increase in the interest rate. just don't see it happening. if you get when you're going to get the other one taking up and that will be very, very difficult to maintain a stable or declining debt-to-gdp ratio. but even cbo has a debt-to-gdp ratio picking up at the end of the 10 year horizon. so we have to stabilize the debt. we haven't fixed the debt. and, in fact, we spread the crisis out so that we really won't go a month without one. we have the fiscal cliff at the end of the year. nothing was done in the later part of the year. and then in the 11th hour, actually it wasn't the 11th hour. it was about the 15th hour, two and half hours aft
deficit for a second straight month in december, that is the first time since 1985 that the current account balance turned to the red for two consecutive months. finance ministry officials say the current account deficit for december about $2.8 billion. the trade balance registered a deficit of about $6 billion. exports fell 6.9% while imports were up about 0.8% from the previous year in yen terms. as a result, the current account surplus for the entire year of 2012 turned out to be the smallest based on comparable data available since 1985 the surplus fell 50.8% from the previous year to $50.2 billion. >>> and across oceans the president of the european central bank expects the region's weakness to prevail for sometime. policymakers at the bank decided to keep the key interest rate unchanged. it's at record low level to support europe's ailing economy. the members of the central bank decided the rate should be maintained at 0.75% for a seventh month in a row. european central bank president draghi said the decision is essential to support the region's economic activity which remain
a current account deficit for the second straight month. the first time the country has been in the red for several months in a row since officials started keeping track the way they do now. finance ministry officials say the current account deficit for december, $2.8 billion. the trade balance registered a deficit of $6 billion. exports fell 6.9%. imports up .8%. in yen terms over the previous year. the current account surplus for 2012 is the smallest based on comparable data based on 1985. surplus fell 50.8% to $50.2 billion. >>> china's total amount of trade soared 27% from january year earlier. but trade with japan posted much smaller growth. china's customs data shows exports totalled more than 180 billion. up 25%. the country imported 160 billion, showing an increase of 29%. the total amount of trade surged 27%. the jump is attributed mainly to dent in the same month last year. the lunar new year holidays fell in january 2012. >>> trade with japan grew slightly more than 10%. china's trade with asean climbed 43%. the data showed that china's trade with the high-growth region is ex
account deficit for a second straight month. it's the first time the country has been in the red for several months in a row since officials started keeping track the way they do now. finance ministry officials say the current account deficit for december was $2.8 billion. the trade balance registered a deficit of about $6 billion. exports fell 6.9%. imports were up 0.8% in yen terms over the previous year. the current account surplus for 2012 turned out to be the smallest. the surplus fell 50.8% from the previous year to $50.2 billion. china's total amount of trade soared about 27% jayne from a year earlier. but it's trade with japan posted much smaller growth. china's customs data shows its exports totalled more than $180 billion last month, up 25%. the country imported about $160 billion worth of goods showing an increase of about 29%. the total amount of trade came to about $345 billion surging nearly 27%. officials attribute the jump mainly to a dent in the same month last year, the lunar new year holidays fell in january in 2012. trade with japan grew slightly more than 10%
want to call them. we still have a deficit over $1 trillion, they said they would run on this like fdr, and andrew jackson, what times are bad, run against rich and bankers, if i was the republicans i would go on the offense say, last we're we brought in 1.2 trillion in income taxes, we still have deficits we could double income tax rates on every american and still run a deficit we have to do something with spending. >> i agree, but the question is how do you go on the defense? you don't go on offensive by immediately saying no, president has successfully painted them in a corner, no-sayres, that is all they say, you say yes, we' reform in september 2011, you came out with a report of your own how to revamp our text system, called plan for economic growth and deficit reduction, if that -- in that report, principles for tax reform, number one issue is lower tax rates, this is president talking not republicans, the tax system should be simp flied and work for all americans and fewer bracket, so say, yes, we're with you mr. president, not simpson-bowles but your own words, we want tax si
coming into the u.s. and more made in america products shipped overseas, the u.s. trade deficit fell sharply last month. the combination now has economists believing the economy grew in the last few months of 2012, even though data out last week showed the economy fell slightly in the fourth quarter. but a closer look shows some cause for caution. darren gersh reports. >> reporter: the december trade numbers were much better than forecasters expected. the deficit between what the u.s. exports and what we import fell 21% to $38.5 billion. and that means exports likely boosted growth in the last three months of 2012. >> so this is a good sign that exports were a little stronger than we thought when the numbers were first estimated and that is obviously a good sign for the economy. again, the economy is obviously growing way too slowly, but at least on this note, i think it will be revised upward. energy is a now a bright spot for the u.s. economy. thanks to new fracking technology, surging domestic production cut crude oil imports last year by 227 million barrels. but that success was
that we need higher fuel tax, and we can use that either to reduce the deficit or to pay for something else. it was designed -- or intended -- whether it has done so successfully or not, it was done to pay for infrastructure. >> absolutely. we are not real happy about that. >> john, what are you hoping for next week? >> for some reason, i have not been consulted on that. the president in the campaign said he was 4 and all of the above energy policy, so let's have some announcements that support that -- he was for an " all of the above" energy policy. let's move forward with the things that you need to do to accomplish that policy. i would say that we would also -- i would like to see stop this discussion about taxing the industry and trying to characterize it as subsidies, which is simply not true, and i would like to see more opportunities in terms of where we can open up areas that are off-limits right now. all those combined can generate an enormous amount of opportunity for the economy right when we need it. >> i will just mention a couple of things. i think lenders have been reall
that john boehner said about how we have handled deficits over the years. let's listen to this. >> at some point, washington has to deal with its spending problem. now, i've watched them kick this can down the road 22 years that i've been here. i've had enough of it. it's time to act. >> that is -- i'm trying to think of a word other than lie. kick the can down the road? we had a big tax increase in 1993 with president clinton along with big spending cuts. >> right. >> it was a deficit reduction package that worked. they continued to do more deficit reducing package with newt gingrich on the spending side throughout the decade and we're on our way to a surplus. >> that's right. i've been calling it the undecade, the 1990s has been written out of their record. they would have you believe that it was always the way it was under reagan and then bush. >> why don't they just say, leave off the clinton tax increase, which helped a lot, and just claim they did it for spending cuts? >> because if they do, if they admit that something nice happened in the '90s, they have to say, what happened after
, the proposals that have been submitted to us will lead to a deficit, college. already in 2012, the budget has a deficit of 16 billion euros. we have to sacrifice and penalize thousands of students. what's the meaning of this? what's the point of this that members states, heads of state are just going to run a deficit? we are not going to go along with his, mr. president. there are rules and we will make sure they are respected, starting with article iii 10 which calls for a balanced budget. do i really have to remind you that this deficit system led to member states to the situation which we find ourselves today? it's a standing that member states are opposing something on the one hand, they are asking to strengthen our economic governance with a sixpack and with a sixpack and a two pack, and they're asking us to stop running deficits. but they want us to learn these bad habits all over again. we've got 960 billion commitments, and the same amount of payment. any direction of a company will tell you that's economic suicide, and it is too simple, mr. president, and you shouldn't hide behind da
were shown. finance ministry officials say the december current account deficit was $2.8 billion. the trade balance registered a deficit of about $6 billion. exports fell 6.9% while imports were up about 0.8% from the previous year. as a result, the ministry said the current account surplus for the whole of 2012 was down for two years in a row. now u.s. stock prices ended lower. the dow jones industrial average lost nearly a third of a percent to end the day at 13,944 on thursday. that's after poor productivity data as well as comments from the ecb president which sent the euro lower. for more and for how stocks are trading here in tokyo, we are going to ramin mellagard at the tokyo stock exchange. we have had two pull-backs. are we headed for another? >> it looks like it. the drop we have seen in trade appears like that. the 2% drop in productivity for the fourth quarter in the u.s. as well as those slightly taken as negative comments from ecb president mario draghi may have more bite. we are definitely seeing that in the opening levels. let's have a look at those. 11,247. less
about deficits, we are buying in to the right wing mantra somehow deficits are killing the economy. look at great britain and doing with their austerity plans and doesn't add up. i'm much more of the mind to be proactively looking at infrastructure investment like many of the business advisers told president obama should happen. people from commerce, from industry. i get it. that won't happen as long as house republicans are dead set against it. and what we're left with is unfortunately in my view a detente to put the discussion in the frame the republicans want. what about deficits? we have a jobs crisis in this country. not a deficit crisis. to me, the whole conversation has been pushed to the right further than it should be. >> and karen, on a last note, in anticipation of the president's speech, the white house released numbers on the people affected by the cuts. i believe around 600,000, between 600,000 and 800,000 suffering as a result of cuts to food stamps and other program that is people need to survive these days and at least some of the analysis out there, democrats feel that
the economy is in a recession or if it it's sagging, then you need deficit spending to get it moving. republicans used to agree with that. even in 2007 and 2008, they were proposing different stimulus measures. they no longer agree with the idea that they get the economy moving in a rough time. so maybe you have to actually have some spending cuts go into effect and see the effect on the economy for them to recognize the fact that oh, yes, if we take this money out of the economy, the economy will go down. that's what happened last quarter. if you hit the pentagon and if you hit domestic spending there's no question that the economy will retreat. so maybe they actually have to see that happen and then there will be some type of political reckoning and a turnaround and we can talk rationally about how to get this economy going again and create jobs. >> of course the president insisted -- and he talked about this yesterday -- he thinks we have to stop lurching from crisis to crisis. >> we continue to have these self-inflicted crisis here in washington that suddenly leads everybody to t
capal managent. >> tom: president obama is once again pushing for a big deal to reduce the deficit. in a preview of the themes he'll lay out in next week's state of the union address, the president told house democrats today he'd press for a big agenda covering everything from fairness, and jobs to deficits and debt. darren gersh has more. >> reporter: with just a few weeks to go before automatic across the board spending cuts kick in, the president told fellow democrats his state of the union address next week will call for a change in course. >> i am prepared, eager and anxious to do a big deal, a big package, that ends this governance by crisis where every two weeks, or every two months, or every six months, we are threatening this hard-won recovery. >> reporter: republicans may not applaud during that part of the speech. they've blasted the president for offering symbolic solutions like a tax on corporate airplanes that would raise enough money to cover one month week of the automatic spending cuts know collectively as the sequester. given the stand off, analysts now predict th
rainfall deficit for the year. we're down nearly half a foot of rain in san francisco, almost three inches in san jose and livermore. we do have this low pressure area. it's working its way down the california coastline right now. snow in the mountains, scattered showers for us. slight chance of a thunderstorm right at the coastline. but once this guy is gone, the rain chance is gone until likely after valentine's day. it will be with us till about lunchtime tomorrow. heading off to work, might want to leave five or ten minutes early, because the rain will likely slow things down. high pressure stays off to our west, giving us a northerly flow, a cold flow but a dry flow. after tomorrow, we will be mainly dry for a while. how much rain tonight? some of you may get half an inch of rain, maybe a little less than that for san francisco. but it's certainly not a deficit buster when it comes to rain. slight chance of a thunderstorm tonight, especially at the coast. the weekend will be sunny and cold. lows near freezing in our inland communit
're brewed by starbucks. coming up next, how can washington solve the deficit and spur growth? "new york times" washington bureau chief david leonhard may have the answers, and he joins us live next. this happy couple used capital one venture miles for their "destination wedding." double miles you can "actually" use. but with those single mile travel cards... [ bridesmaid ] blacked out... but i'm a bridesmaid. oh! "x" marks the spot she'll never sit. but i bought a dress! a toast... ...to the capital one venture card. fly any airline, any flight, anytime. double miles you can actually use. what a coincidence? what's in your wallet? [ all screaming ] watch the elbows ladies. a talking car. but i'll tell you what impresses me. a talking train. this ge locomotive can tell you exactly where it is, what it's carrying, while using less fuel. delivering whatever the world needs, when it needs it. ♪ after all, what's the point of talking if you don't have something important to say? ♪ if you don't have something important to say? [ female announcer ] some people like to pretend a flood could
it far easier for ireland to bring down its budget deficit. >> german carmaker diamond has reported record sales for 2012, but it did miss its profit target. timeless says profits were 8.6 billion euros, which is below its 2011 results -- daimler says profits were 8.6 billion euros. >> weak demand in europe weighed on the mercedes luxury car division. they did boost the bottom line by selling a stake in the eads and aerospace group. the company also announced measures to increase its presence in china. the german foreign minister is in the philippines on a mission to boost trade ties. berlin has had frosty relations with manila ever since a trade dispute in the 1990's. >> westerwelle said to some to put that behind the two countries and rebuild relations. germany is manila's biggest trading partner, and strong growth between the two is expected. >> it is the first time in more than a decade that a german foreign minister has paid a visit to the philippines. during talks with his counterpart in manila, the finance minister said they were eager to do more business with the pacific nat
-14 and 14-15. the mayor's office is currently projecting a 263 million dollar deficit for that two year period and that shortfall results from approximately 344 million dollars in known cost increases which is offset by 81 million dollars in estimated revenue growth over the same period. as always, this gap will have to be closed by the time the mayor submits his report, general funding departments reduced our budget, our general fund support by 3% over the next two fiscal years and they've asked us to make a 1 and a half percent cut in 13-14 and a 1 and a half percent cost in 14-15, the budget reduction targets that we received from the mayor's budget office are 465 thousand dollar reduction next year and a 558 thousand dollar reduction the next year, so in the scope of the budget reduction that they have received over the last three or four years, this is eminently manageable. two years ago, we were asked to make a 20% budget cut, so this is something that feels like we can accomplish hopefully with relatively little pain. we would hope to meet this 3% target as well as any cost inc
that the european parliament might not pass a budget deal. -- pass a budget deal which they regard as a deficit deal. there may yet be hurdles to overcome. am i he is one of the arctic -- >> he is one of the architects of the us drone program. what could be leadership asked the leadership of john brennan mean for us policy -- what could the leadership of john brennan mean for us policy? >> hello. welcome back. for much of europe, it remains very cold and unsettled. lots of frontal systems, active frontal systems. a lot of snow whooshing up across -- pushing up across poland. still some significant snowfall. we are likely to see further snow the next few days. most of the heaviest snow will be across the ukraine and extending up towards western parts of russia. you see some snow over the dolomites. there is some patchy snow further to the west. many of these frontal systems are looking relatively weak at the moment. towards iberia, temperatures in double figures in madrid. north africa, still this is affecting algeria, some heavy downpours expected. temperatures probably no higher than 9 degrees, way
deficit narrowed in december, the markets also getting a boost from strong earnings reports from them. the dow up 32. the nasdaq actually closing in on a 12 year high of 27. s & p up 6. >>> palo alto based hewlett- packard has issued new rules from the use of student labor by its suppliers and factories overseas, they say the move is in response to complaints that chinese factories have been using student labor, in many parts of china factories lure them with promises of internships or temporary assignments, often using forged documents, their movements are also restricted, the require limited stands and the freedom to leave. >>> if love is blind it might also be broke after that. americans plan to spend 18.6 billion dollars to show their affection. men will account for 2/3 of that and averages out to $131 per love struck consumer. as always the big sellers are expecteded to be candy, flowers and jewelry. >>> today on ktvu channel 2 news at 5:00 we are following multiple developing stories right now, tracking down more information on the man arrested for plotting to blow up a bank and
we need higher fuels tax and we can use that to reduce the deficit or for something else. the fuels tax was designed or intended whether it's done so successfully or not. was intended to pay for infrastructure. that's what we're talking about. >> absolutely. yeah. we're not happy about that. >> what are you hoping for next week? >> for some reason, i haven't been consulted on that. [laughter] the president in the campaign said he was for an all of the above energy policy. andlet have announcements that support that. let's move forward with the big decisions like keystone x l and leasing decision, five-year plan and the a things you need to do in order to accomplish the above policy. i would say that we also i would like to see stop the discussion about taxing the industry and trying to characterize the subsidizes, which is simply not true. and i'd like to see some more opportunities in terms where can with open up areas that are off limits right now. all of the combined with generate an enormous amount of opportunity for the economy when we need it. >> [inaudible] >> i'll just menti
of the u.s. trade deficit. but still, traders are not heading into the weekend in a positive mood. outlooks that companies have been giving, and of course on the trading week, were not convincing, and that is why the dax lost more than 2% in the course of this trading week. >> a quick look at the market numbers now -- the dax closed up 5.81%. the euro stoxx 50 gain more. in new york, the dow is going up by about 0.3%. the bureau is now trading at one -- $1.3358, slightly down. >> talk about going against the mainstream -- the ceo of volkswagen says he wants to take a pay cut even though under the company's rules, his salary should be going up by millions. >> he told the german magazine that it is not possible to justify a pay package of 20 million euros to ordinary people. vw is about to enter into wage talks with production staff. in 2011, he was the highest paid ceo in germany. >> china is continuing to expand its role as the workshop of the world with, according to its own figures, exports growing 25% in january compared to the same time last year. that far exceeds expectations. >> and i
to agree on a deficit reduction plan. it's a stupid plan. [ laughter ] how will those cuts help us? >> the congressional budget office came out with a report ten minutes ago that said the effects of sequester will be to retard growth by 1.25 percentage points. >> jon: how many people only took away from that sound bite the word retard. and how that word even if proper context seems offensive. you can't even call our economy retarded. what are you going to do now? you can't offend our economy. it will hit the defense department. how do you think the defense department feels about that? >> if these cuts happen there le bay disruption in defense and sharp decline in military readiness. >> jon: you can pull troops from germany and consolidate middle east forces and most armies and go all in on the australian content. this is not a game. [laughter] >> jon: no it's the game the world domination. risk. this is jon stewart comedian and drawing room emperor. you know, when i'm looking to kill eight hours, i like to play half a game of risk. [laughter] risk: because monopoly moves too fast
numbers like the better than expected trade balance which saw deficits shrinkage of about, what, close to 21%. all of these december numbers are going to impact potential revisions to gdp for the fourth quarter, which we received last week. and it was a paltry minus .1 of 1%. we'll watch this number very carefully. interest rates have moved up with stocks. wholesale inventories shrank .1 of 1%. sales were unchanged at a goose egg. we were expecting .4 on inventories. this is going to be very key as we factor in some of our potential revisions for the next look at fourth quarter gdp, which comes at the end of the month. here we get close, within two basis points of 2%. remember, we started out around 193, 194 today and closed last week at the highest yield close going back to april at 2.02. >> rick santelli, thank you. not too much reaction in terms of the major averages to that data. it is important to keep in mind, with these gains here, we're now positive for the week. definitely for the s&p 500. this is a new high, by the way, on the spx. up almost eight points. the nasdaq as you se
.../ says... the &pcity... could have... a budget deficit... of... more ttan... 700---million & dollars... over the nexx ecade. & ecadd. tonighh jeff abblll peports on some of the unnerlying reasons whh. 3 3 a grave assessment of the citt's fiscal future from he mayorrabs) 1-5"if we fail to acc. weewill enn up in the same situation as many other & dolllars in deficits for years &pto comebut why is a city with highest taxes in the stateaalwaas broke?fox 45 dug deeper into the numbers and found some disturbing - trendseven as the city's population shrinksbaltimore government has become 33 the costs...ppy and benefftt forrcity employees02:16::3"wee - were once thh 6th largest city ffom the us census bureau shows baltimooe citt payroll - rose by thirtt million dollars peroii when the city lost -3 30,,00 residentsand despite falling on the list of the nation's argest cities baltimore cootinues to employ & more workers than arger ciiiisslike denver and pheonix whhch are actually growing - 02:26:31"they're perversely p
. you've got to address the larger deficit issue, and to address the larger deficit issue -- and my own experience. i've participated in every budget summit we have indiana past -- we have had in past years. you have to develop a balanced package. that's the nature of dealing with the size deficits you've got. and my preference, frankly, is that the congress would do the big deal, get it done, get this behind us, detrigger sequester, stop this constant uncertainty. this month-to-month situation where we don't know what the hell we're going to get. that should end. in the absence of that deal, obviously i'll support whatever package you can put together to try to detrigger sequester. whatever you can do to make sure this doesn't happen. i mean, i cannot imagine that people would stand by and deliberately hurt this country in terms of our national defense by letting this take place. >> i'll only add briefly that most of the things we're doing are reversible. that is our goal, they would be reversible, but even if you reverse them it will take some time -- and i can't predict that yet -- w
references to the trust deficit that has at times existed between this committee and the cia. if i'm confirmed, the address the deficit between the committee and the cia would be wholly unacceptable and i would make it my goal on day one of my tenure and every day thereafter to strengthen the trust between us. i have a reputation for speaking my mind, and at times doing so in a direct manner, which some attribute to my new jersey routes. -- roots. i would like to think that my candor would reassure you that you'll get straight answers from me, maybe not always those you will like, but you will get answers and they will reflect my honest views. that is the commitment i made to you. i would like to finish by saying a few words about the importance of taking care of the women and men who serve in the cia. because the of the secretiveness that the intelligence work requires, few americans will ever know the making sacrifices that these professionals and their families make every day. many have risked their lives and at times have given their lives to keep our country states. -- safe. i
's come back and talk about it. >> if i am confirmed, a trust deficit between the committee and the cia would be wholly unacceptable to me. i like to think that mikan dore and bluntness will reassure you you will get straight answers from me, maybe not always the ones you like, but you will get answers and they will reflect my honest views. >> senator, you've been one of the most high-profile critics of the administration for not giving as much information particularly the legal documentation underpinning the targeting of u.s. citizens. is there a current trust deficit between the senate intelligence committee and the administration, and can someone like john brennan heal it or not? >> he did move in the right direction in a number of areas. i was very pleased when he said that if a mistake was made on a targeted killing matter, he'd make a public acknowledgement, something like that. i think he did take some steps in the right direction and the president did as well when he called on wednesday night and said he would reverse course and make additional materials available with respect t
and weather together every 10 minutes. back to you guys. >>> america's trade deficit is at its lowest level in three years. here's kcbs radio's financial reporter jason brooks with more. >> reporter: good news on the u.s. economy this morning. trade deficit dropping 21% in december for $38.6 billion. that's the lowest level in nearly three years. helped out by a rise in imports thanks in particular to a big jump in oil production here in the united states. lowest level of oil production since february 1997 social networker linked in reported its earnings after the closing bell topping expectations revenue up 80% to over $300 million. linkedin stock is taking off this morning at 17% after the opening bell. linkedin has done much better than social media companies out there. numbers up on the trade data. dow up 43. close to 14,000 again. nasdaq up 23. s&p up by 6. back to you. >> thank you, jason brooks. >>> the lone star state makes a pitch for workers in california and we are counting down to the opening of the new east span of the bay bridge and
. it is important for us, whether we are talking about this issue or our deficit issue, to understand the demographic changes that are happening in and around the country. it is also the case -- i know you have been talking about manufacturing. we have a lot of jobs in this country that are unfilled. as a former superintendent of schools, i can tell you that my first priority is that we have to fill those jobs here. we are doing a horrendous job of preparing people for the stem fields that are required to make sure this country actually leads the world in advanced manufacturing. there is so much more we can do. we have not begun to do what we need to do for kids in this country to be ready for the 21st century. while we do that, it seems to me that it makes no sense for us to be saying to people that have acquired advanced degrees here and our foreign nationals, whose education we subsidized, but for a answer, because of obsolete caps that do not make sense, if that that ought to go build a business to compete with people in the united states. we need those folks here, to be able to d
deficit with china felt by quite a bit suggesting strong american manufacturing and exports. now it's good news, but it doesn't gibe with the latest gdp numbers we have showing that the american economy has contracted. so economists are going to have to go back and figure this one out. those discouraging gdp numbers could very well be wrong. >>> a decent day on the markets. it's been a peculiar week this week, a lot of up and a lot of down. linkdn doing well after blowout yesterday. >>> and the power company that provided electricity to the louisiana superdome said it figured out what caused the power outage during the super bowl. it wasn't hackers, beyonce, it was just a bad relay. sometimes the explanation turns out to be a bit routine. a thing-ga-ma-doo quit working. >> fun to think that beyonce blew out all the lightsp. >> scott mcgrew talking about a thing-ga-ma-doo. >> technical term. >>> a live look. beautiful clear skies more or less here over san francisco. this is the clearest it's been all day. so mostly sunny here. let's show you san jose now. oh, yeah, we're still dealing with
talking about how much rain fell today and this big deficit. >> wondering about the bay area and how we stacked up as far as rainfall totals are concerned, here in the embarcadero we saw .1" of rain. pretty anemic. here's the other totals around the microclimate. st. helena with nearly .4." sausalito in the north .14." how do we stack up as far as precipitation of normal stats? san francisco is now over 5.5" below normal for this time of the year. and san jose and livermore still 3" below average. we have six more weeks of the rainy season to continue before springtime officially arrives. and unless we start to see some showers, those may showers thatfully those flowers by the summertime we could possibly be talking about the "d" word, and i'm not talking about deanno. i'm talking about drought. from the embarcadero, reporting from mobile weather, roberta gonzales, kpix 5. >> we'll talk to paul in just a few minutes. >>> remember, you can stay ahead of the rain in your neighborhood with our interactive high-def doppler radar. it's on our website,
deficit. president was looking to rally house democrats at their annual retreat saying he wanted a long-term budget deal but new revenues must be part of the package. >> i am prepared, eager and anxious to do a big deal, a big package, that ends this governance by crisis where every two weeks or every two months or every six months we are threatening this hardline recovery -- >> the president also discussed a looming automatic budget cuts arguing the public favors his plan for a balanced solution. >>> turning to the topic of guns. the president will continue his push to stop gun violence as the first lady pays tribute to the latest victim. michelle obama is headed to chicago this weekend to attend the funeral of 15-year-old what day yeah pendleton. the honors student was shot last week in a chicago park just days after performing at inauguration students in d.c. pendleton was among 40 people gunned down in chicago last month, making january its deadliest month in over a deck. >> the white house confirms senior adviser valerie jarrett and education secretary arne duncan, long-time chicag
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